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Flex LNG Announces New Time Charter for Flex Aurora

Flex LNG Ltd. has recently confirmed a new Time Charter Agreement (TC) for the LNG carrier Flex Aurora, marking an important step in the company’s operations within the growing Liquefied Natural Gas (LNG) market. This contract is set for a minimum firm period of two years and includes an option for the charterer, a major player in the oil and gas industry, to extend the contract for an additional six years. If fully exercised, this could lead to a commitment lasting until the year 2034.

Flex Aurora, which was previously leased out for a term of 3.5 years, was recently redelivered and has quickly found new employment opportunities, reflecting its modern design and operational reliability. Constructed in 2020, the vessel is equipped with advanced X-DF two-stroke propulsion technology, boasting improved fuel efficiency and a reduced carbon footprint compared to older models.

The CEO of Flex LNG Management AS, Marius Foss, expressed enthusiasm for this new contract, emphasizing the current momentum in the LNG shipping market. The company’s total contract backlog now stands at a minimum of 55 years, which may increase significantly if the charterer opts to extend the agreement. This positive development aligns with the company’s strategy to capitalize on favorable market conditions and solidifies its reputation for safe and reliable operations.

With two vessels now operational in a robust spot market, Flex LNG anticipates that the new contract will positively impact earnings in the second quarter of 2026. However, the company remains cautious, acknowledging that the LNG shipping and broader energy markets continue to experience volatility, which may necessitate adjustments to its financial forecasts as circumstances evolve.

Flex LNG’s fleet currently comprises thirteen state-of-the-art LNG carriers, reflecting a commitment to efficiency and environmental responsibility. These vessels are equipped with the latest advancements in propulsion technology, which enhance overall performance and sustainability—an essential focus in today’s economic landscape.

As the global demand for LNG rises, Flex LNG is well-positioned to respond to market trends. The company’s proactive approach to securing contracts and optimizing its fleet enables it to adapt to unpredictable market dynamics effectively. Stakeholders and investors will be closely monitoring how these new developments play into the overall company strategy and performance in the upcoming financial periods.

In summary, the new time charter for Flex Aurora stands as a testament to Flex LNG's vision of expanding its operational footprint amid shifting energy demands. The management’s focus on strategic contracts and maintaining a modern fleet aligns with broader industry trends, ensuring continued growth and stability for the company.

For inquiries and further information, Mr. Knut Traaholt, the Chief Financial Officer at Flex LNG Management AS, can be reached via telephone or email for any detailed inquiries regarding this contract and its implications for the company’s future.